Question 1

Benefit plans that permit employees to choose the types and amounts of benefits they want from a set of alternatives are called

Accepted Answer

A)   preferred provider plans.
B)   cafeteria-style plans.
C)   defined-benefit plans.
D)   flexible spending accounts.
E)   cash balance plans.F) B) and E)
G) B) and D)

Question 2

According to the Financial Accounting Standards Board,employers fund retirement benefits on a pay-as-you-go basis.

Accepted Answer

A) True 
 B)False

Question 3

Social security benefits increase if a worker earns wages above the exempt amount.

Accepted Answer

A) True 
 B)False

Question 4

What are the objectives of the unemployment insurance program established by the Social Security Act of 1935? How is this program funded?

Accepted Answer

The unemployment insurance program was e...

Question 5

Which of the following strategies can be legally adopted by organizations looking to restructure the workforce to minimize the expense of benefits?

Accepted Answer

A)   using more independent contractors rather than hiring additional employees
B)   limiting the coverage on life insurance based upon an employee's age
C)   using more full-time rather than part-time employees
D)   recruiting new employees instead of demanding overtime from existing employees
E)   substituting HMO and PPO plans with traditional health insurance plansF) All of the above
G) A) and C)

Question 6

Two management students,Frank and Neil,discuss the pros and cons of employee benefits.Frank states that unemployment insurance is more advantageous to employees than it is to employers,while Neil argues that employers receive more rewards from it.Which of the following weakens Neil's argument?

Accepted Answer

A)   Unemployment insurance provides employers a competitive advantage in the talent market.
B)   The amount of an employer's unemployment insurance tax depends on the number of employees.
C)   Federal and state taxes paid by employers fund most of unemployment insurance.
D)   Unemployment insurance does not provide assistance to unemployed workers looking for new jobs.
E)   Unemployment insurance does not include payment to offset lost income during voluntary unemployment.F) A) and E)
G) B) and C)

Question 7

Ryan was working as an engineer at a paint manufacturing company.A chemical spill at the factory caused an accident that left him permanently disabled.Which of the following programs is specifically designed to help employees like Ryan?

Accepted Answer

A)   unqualified retirement plan
B)   vested-benefit plan
C)   Social Security
D)   defined-benefit plan
E)   work-sharing planF) A) and B)
G) A) and C)

Question 8

Employees who are parents always need child care and family leave.

Accepted Answer

A) True 
 B)False

Question 9

James is the founder of a new start-up company.He hires mostly young employees who are fresh out of college.He finds that most of his employees are willing to develop their knowledge and skills and would like to take courses to improve themselves.This additional knowledge would benefit James' company,so he decides to encourage this behavior.Which of the following programs is James most likely to use in order to do so?

Accepted Answer

A)   tuition reimbursement program
B)   employee wellness program
C)   worker's compensation program
D)   short-term vesting program
E)   mature education programF) None of the above
G) C) and E)

Question 10

Linda,who is pregnant,works for an organization with more than 100 employees.She lives 20 miles away from work.By federal law,she is entitled to _____ of unpaid leave after her child is born.

Accepted Answer

A)   12 days
B)   56 days
C)   12 weeks
D)   30 weeks
E)   11 monthsF) D) and E)
G) B) and E)

Question 11

According to Employee Retirement Income Security Act (ERISA),employees whose contributions are vested meet the requirements to receive a pension at retirement age.

Accepted Answer

A) True 
 B)False

Question 12

What are HMOs and PPOs? How do they differ from each other and from traditional health care providers?

Accepted Answer

Health maintenance organizations (HMOs)a...

Question 13

Which of the following is true of a cash balance plan?

Accepted Answer

A)   All contributions to the plan come from the employee.
B)   The money earns interest at a predetermined rate,such as the rate paid on U.S.Treasury bills.
C)   Older employees with many years of service benefit to a greater degree than do younger workers just starting their careers.
D)   It penalizes employees for changing jobs.
E)   Employees cannot predict retirement benefits under cash balance plans.F) A) and C)
G) All of the above

Question 14

Under the workers' compensation laws,employees are eligible to receive their regular paycheck in the event of a disability.

Accepted Answer

A) True 
 B)False

Question 15

What are flexible benefit plans? What are their advantages and disadvantages?

Accepted Answer

Organizations can address differences in...

Question 16

Which of the following is a similarity between unemployment insurance benefits and workers' compensation benefits?

Accepted Answer

A)   Both of the programs are funded by the federal taxes on employees.
B)   Both of the programs' costs depend on the organization's experience ratings.
C)   Both of the programs have the same funding costs across the states.
D)   Both of the programs replace the same percentage of an individual's previous earnings.
E)   Both of the programs provide the same amount of compensation to the employees.F) C) and D)
G) A) and B)

Question 17

Employers in the United States are legally required to provide 30 days of paid vacation to both new and existing employees every year.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following actions help organizations reduce the cost of health care benefits offered to employees?

Accepted Answer

A)   increasing the amount employers pay for deductibles and coinsurance
B)   selecting traditional health insurance over HMOs and PPOs as a preferred option
C)   expanding the coverage for different types of claims
D)   paying some or all of the difference in cost between an HMO or PPO plan
E)   shifting from traditional health insurance plans to PPOs and CDHPsF) B) and E)
G) C) and D)

Question 19

Tuition reimbursement programs offered by certain organizations cover the tuition and other education related expenses of their workers' children.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is true of employee benefits?

Accepted Answer

A)   Employees have a thorough understanding of what benefits they have and what the market value of these benefits is.
B)   Employees have a hard time understanding the cost and value of their benefits.
C)   It is up to employees to determine the cost and value of their benefits.
D)   Employees,for the most part,are just not interested in their benefits.
E)   Employers have very limited options for communicating information about benefits.F) All of the above
G) A) and C)

Exam 14: Providing Employee Benefits

Which of the following is true of a cash balance plan?

Correct Answer
verified

According to the Financial Accounting Standards Board,employers fund retirement benefits on a pay-as-you-go basis.

Correct Answer
verified

Which of the following is true of employee benefits?

Correct Answer
verified

Benefit plans that permit employees to choose the types and amounts of benefits they want from a set of alternatives are called

Correct Answer
verified

According to Employee Retirement Income Security Act (ERISA),employees whose contributions are vested meet the requirements to receive a pension at retirement age.

Correct Answer
verified

What are HMOs and PPOs? How do they differ from each other and from traditional health care providers?

Correct Answer
verified
Health maintenance organizations (HMOs)a...
View Answer

Employers in the United States are legally required to provide 30 days of paid vacation to both new and existing employees every year.

Correct Answer
verified

What are flexible benefit plans? What are their advantages and disadvantages?

Correct Answer
verified
Organizations can address differences in...
View Answer

Under the workers' compensation laws,employees are eligible to receive their regular paycheck in the event of a disability.

Correct Answer
verified

Linda,who is pregnant,works for an organization with more than 100 employees.She lives 20 miles away from work.By federal law,she is entitled to _____ of unpaid leave after her child is born.

Correct Answer
verified

What are the objectives of the unemployment insurance program established by the Social Security Act of 1935? How is this program funded?

Correct Answer
verified
The unemployment insurance program was e...
View Answer

Ryan was working as an engineer at a paint manufacturing company.A chemical spill at the factory caused an accident that left him permanently disabled.Which of the following programs is specifically designed to help employees like Ryan?

Correct Answer
verified

Social security benefits increase if a worker earns wages above the exempt amount.

Correct Answer
verified

Which of the following actions help organizations reduce the cost of health care benefits offered to employees?

Correct Answer
verified

Tuition reimbursement programs offered by certain organizations cover the tuition and other education related expenses of their workers' children.

Correct Answer
verified

Correct Answer
verified

Which of the following is a similarity between unemployment insurance benefits and workers' compensation benefits?

Correct Answer
verified

Which of the following strategies can be legally adopted by organizations looking to restructure the workforce to minimize the expense of benefits?

Correct Answer
verified

Two management students,Frank and Neil,discuss the pros and cons of employee benefits.Frank states that unemployment insurance is more advantageous to employees than it is to employers,while Neil argues that employers receive more rewards from it.Which of the following weakens Neil's argument?

Correct Answer
verified

Employees who are parents always need child care and family leave.

Correct Answer
verified

Exam 14: Providing Employee Benefits

Which of the following is true of a cash balance plan?

Correct AnswerverifiedShow Answer

According to the Financial Accounting Standards Board,employers fund retirement benefits on a pay-as-you-go basis.

Correct AnswerverifiedShow Answer

Which of the following is true of employee benefits?

Correct AnswerverifiedShow Answer

Benefit plans that permit employees to choose the types and amounts of benefits they want from a set of alternatives are called

Correct AnswerverifiedShow Answer

According to Employee Retirement Income Security Act (ERISA),employees whose contributions are vested meet the requirements to receive a pension at retirement age.

Correct AnswerverifiedShow Answer

What are HMOs and PPOs? How do they differ from each other and from traditional health care providers?

Correct AnswerverifiedHealth maintenance organizations (HMOs)a...View AnswerShow Answer

Employers in the United States are legally required to provide 30 days of paid vacation to both new and existing employees every year.

Correct AnswerverifiedShow Answer

What are flexible benefit plans? What are their advantages and disadvantages?

Correct AnswerverifiedOrganizations can address differences in...View AnswerShow Answer

Under the workers' compensation laws,employees are eligible to receive their regular paycheck in the event of a disability.

Correct AnswerverifiedShow Answer

Linda,who is pregnant,works for an organization with more than 100 employees.She lives 20 miles away from work.By federal law,she is entitled to _____ of unpaid leave after her child is born.

Correct AnswerverifiedShow Answer

What are the objectives of the unemployment insurance program established by the Social Security Act of 1935? How is this program funded?

Correct AnswerverifiedThe unemployment insurance program was e...View AnswerShow Answer

Ryan was working as an engineer at a paint manufacturing company.A chemical spill at the factory caused an accident that left him permanently disabled.Which of the following programs is specifically designed to help employees like Ryan?

Correct AnswerverifiedShow Answer

Social security benefits increase if a worker earns wages above the exempt amount.

Correct AnswerverifiedShow Answer

Which of the following actions help organizations reduce the cost of health care benefits offered to employees?

Correct AnswerverifiedShow Answer

Tuition reimbursement programs offered by certain organizations cover the tuition and other education related expenses of their workers' children.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is a similarity between unemployment insurance benefits and workers' compensation benefits?

Correct AnswerverifiedShow Answer

Which of the following strategies can be legally adopted by organizations looking to restructure the workforce to minimize the expense of benefits?

Correct AnswerverifiedShow Answer

Two management students,Frank and Neil,discuss the pros and cons of employee benefits.Frank states that unemployment insurance is more advantageous to employees than it is to employers,while Neil argues that employers receive more rewards from it.Which of the following weakens Neil's argument?

Correct AnswerverifiedShow Answer

Employees who are parents always need child care and family leave.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Health maintenance organizations (HMOs)a...
View Answer

Correct Answer
verified

Correct Answer
verified
Organizations can address differences in...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The unemployment insurance program was e...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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